Silicon Valley startup Ethernovia is responsible for developing an optimized, seamless hardware and software system for vehicles. One of the main goals of the company is to create a unique vehicle chip system, reducing the complexity of the system as well as improving safety..

The company’s proposal attracted attention large companies present on the market today, such as AMD, Porsche, Qualcomm and other tech giants. The companies took part in the investment round and invested 64 million USDabout BRL 313 million at current quotations.

Resources will be directed to transport networks that will receive technology to reduce costs and complexity while improving energy efficiency in next generation structures. In addition, Ethernovia will use resources to improve its technology, including a 7nm multi-gigabit PHY (physical layer).

“We are extremely grateful for the vote of confidence this group of industry-leading investors has shown in Ethernovia’s technology and vision for the future of the connected car. We are very proud to have developed an advanced network architecture to power the vehicle. These innovations set new industry expectations for what can be achieved in terms of cost, power and flexibility that automakers and consumers demand from new vehicles,” said Ramin Shirani , co-founder and CEO of Ethernovia.

The study suggests continued growth in this sector over the next decade

According to research institute Future Market Insights, the international automotive communications market is valued at $33.42 billion in 2023 and is projected to peak at $190.29 billion by 2033.

The study attributes this expansion to several elements, including tightening safety standards, rising sales of luxury cars, the advent of 5G infrastructure, increased vehicle autonomy, and “increased adoption of embedded connectivity.”

“Trends in electrification and connectivity in the automotive industry as well as developments in automated driving are driving ever-increasing demands for fast and secure data transfer from a wide variety of automotive and cloud sources,” emphasizes Lutz Meschke. Member of the Management Board of Porsche SE.

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Via: Yahoo Finance

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